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Politics : Formerly About Advanced Micro Devices

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To: RetiredNow who wrote (756794)	12/9/2013 4:11:34 PM
From: Bilow	Read Replies (1) of 1574900

Hi mindmeld; Re: "These policies of deficit spending and QE that you think are making things better for the 99% are simply not. They are great for the 1%, though, even as the Keynesians and Dems claim otherwise." As we seem to agree, there is no silver bullet for depressions so there is no reason to expect that things are getting better for the 99%, either with QE or without. But that concept of what helps the 1% is an interesting subject. I argue that the cause of this depression is a crisis in the confidence of the upper class. Obama has dug it deeper by scaring them. If QE helps those scared upper class people, (and I'm not convinced it does, but "if"), then it should help get us out of this depression. When wealthy people get scared they quit spending money. This causes the economy to contract as there are fewer purchases made. One way to get the wealthy to quit hoarding money is to threaten to make their money worth less. So they spend it on stuff intended to avoid inflation. The result is that people get work building houses, or mining gold, etc. -- Carl

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